Nuveen Asset Management LLC Has $139.57 Million Holdings in Regal Rexnord Co. (NYSE:RRX)

Nuveen Asset Management LLC grew its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 79.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 899,688 shares of the company's stock after acquiring an additional 399,267 shares during the period. Nuveen Asset Management LLC owned 1.36% of Regal Rexnord worth $139,569,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Skandinaviska Enskilda Banken AB publ grew its position in shares of Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock worth $25,000 after buying an additional 137 shares during the period. Bernard Wealth Management Corp. bought a new stake in shares of Regal Rexnord in the fourth quarter worth about $30,000. Aster Capital Management DIFC Ltd bought a new stake in Regal Rexnord during the 4th quarter worth approximately $33,000. Tobam bought a new position in Regal Rexnord in the fourth quarter valued at approximately $45,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Regal Rexnord by 90.5% in the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock valued at $50,000 after buying an additional 153 shares during the period. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Stock Down 0.8%

RRX stock traded down $1.07 during mid-day trading on Thursday, reaching $133.60. The company had a trading volume of 88,561 shares, compared to its average volume of 572,661. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of 45.33, a PEG ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 52 week low of $90.56 and a 52 week high of $185.28. The stock has a 50 day simple moving average of $115.37 and a two-hundred day simple moving average of $141.04. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.33. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the firm posted $2.00 earnings per share. The company's quarterly revenue was down 8.4% compared to the same quarter last year. As a group, equities analysts predict that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be paid a $0.35 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.40 annualized dividend and a yield of 1.05%. Regal Rexnord's dividend payout ratio (DPR) is currently 39.89%.

Insider Buying and Selling

In other news, CEO Louis V. Pinkham sold 10,593 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total value of $1,486,515.69. Following the completion of the sale, the chief executive officer now directly owns 175,954 shares of the company's stock, valued at $24,691,624.82. This trade represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RRX has been the topic of several research reports. KeyCorp cut their price objective on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Thursday. Citigroup increased their price objective on Regal Rexnord from $110.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Barclays lifted their target price on Regal Rexnord from $155.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Finally, Robert W. Baird upped their price target on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $171.25.

Regal Rexnord Company Profile

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.